District of Columbia Reports over 500 Properties With Foreclosure Filings in July

Activity increased 25 percent from June; down 7 percent from year ago.

 

The District of Columbia reported 521 properties with foreclosure filings for the month, a 25 percent increase from the previous month, but still 7 percent below the level reported in July 2008, according to the latest RealtyTrac® U.S. Foreclosure Market Report. 

 

“Foreclosure activity rose significantly in the District of Columbia between June and July, though it remained below the level reported for this time last year,” said James J. Saccacio, chief executive officer of RealtyTrac. “Unemployment is still a major concern within the area, causing speculation that additional foreclosures are on the way in future months.”

 

District a minor contributor to nation’s foreclosure activity in July

The District accounted for less than 1 percent of the 360,149 properties with foreclosure filings reported nationwide in July. Total U.S. activity rose almost 7 percent from the previous month and was more than 32 percent ahead of July 2008. One in every 355 U.S. housing units received a foreclosure filing during the month.

 

Report methodology

The RealtyTrac Monthly U.S. Foreclosure Market Report provides a count of the total number of properties with at least one foreclosure filing reported during the month — broken out by type of filing at the county, state and national level. RealtyTrac’s report incorporates documents filed in all three phases of foreclosure: Default Notice of Default (NOD) and Lis Pendens (LIS); Auction Notice of Trustee Sale and Notice of Foreclosure Sale (NTS and NFS); and Real Estate Owned, or REO properties (that have been foreclosed on and repurchased by a bank). If more than one foreclosure document is filed against a property during the month — which is extremely rare — only the most recent filing is counted in the report. The report also checks if the same type of document was filed against a property in a previous month. If so, and if that previous filing occurred within the estimated foreclosure timeframe for the state the property is in, the report does not count the property in the current month.

 

For current news and information regarding foreclosure-related issues and trends, check out our blog at www.ForeclosurePulse.com.

 

 

District of Columbia Foreclosure Rate – July 2009

 

County

NOD

LIS

NTS

NFS

REO

Total

1/every X HU (rate)

/Natl Avg

/State Avg

 

 

 

 

 

 

 

 

 

 

United States

62,939

71,565

104,830

33,557

87,258

360,149

355

n/a

n/a

District of Columbia

267

0

219

0

35

521

546

0.65

n/a

 

 

 

 

 

 

 

 

 

 

 

 

District of Columbia Foreclosure Total – July 2009

 

County

NOD

LIS

NTS

NFS

REO

Total

1/every X HU (rate)

% Chg June 09

% Chg July 08

 

 

 

 

 

 

 

 

 

 

United States

62,939

71,565

104,830

33,557

87,258

360,149

355

6.74

32.32

District of Columbia

267

0

219

0

35

521

546

24.94

-6.80

 

 

 

 

 

 

 

 

 

 

 

 

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